Analysis for October 25th, 2016
The EUR/USD pair is moving inside a narrow consolidation range without any particular direction. If later this range is broken upwards, the price may be corrected to reach 1.0949 (an alternative scenario); if downwards – continue falling inside the downtrend with the target at 1.0800 (the main scenario).
EUR USD, “Euro vs US Dollar”
The GBP/USD pair is consolidating without any particular direction. If later the price breaks this range upwards, it may grow to reach 1.2333; if downwards – fall with the target at 1.2064.
GBP USD, “Great Britain Pound vs US Dollar”
The USD/CHF pair is still consolidating. Possibly, the price may form another descending structure towards 0.9910 to continue the correction (an alternative scenario). The main scenario suggests that the market may continue growing inside the uptrend with the target at 1.0015.
USD CHF, “US Dollar vs Swiss Franc”
Being under pressure, the USD/JPY pair is growing. Possibly, the price may choose an alternative scenario and update the top of this wave. In fact, the market may form double top pattern in the correctional wave. After that, the instrument may continue falling inside the downtrend to reach the first target at 103.00.
USD JPY, “US Dollar vs Japanese Yen”
The AUD/USD pair is consolidating. Possibly, right now the price is forming the flag correctional pattern towards 0.7645. After that, the instrument may continue falling to reach 0.7555.
AUD USD, “Australian Dollar vs US Dollar”
The USD/RUB pair is still consolidating. The market tried to resume falling and reached a new low, and now may continue moving towards 61.30. However, taking into account the descending correction of the oil prices, the pair may also return into its narrow consolidation range.
USD RUB, “US Dollar vs Russian Ruble”
GOLD is trading to rebound from 1260 and start growing. Possibly, the price may reach 1278 and then start another correction to test 1262 from above. Later, in our opinion, the market may grow and reach the local target at 1290.
XAU USD, “Gold vs US Dollar”
Brent is still being corrected. We think, today the price may grow towards 52.90 and then fall to reach 50.54. Later, in our opinion, the market may test 52.50 from below. The main target of the correction is at 50.30. After that, the instrument may start growing to reach 54.64.
RoboForex Analytical Department
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